Trane Technologies plc (NYSE:TT) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its position in shares of Trane Technologies plc (NYSE:TT - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,690 shares of the company's stock after acquiring an additional 655 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Trane Technologies were worth $7,308,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TT. Minot DeBlois Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $28,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $37,000. Golden State Wealth Management LLC purchased a new stake in shares of Trane Technologies in the fourth quarter worth about $39,000. Finally, NBC Securities Inc. purchased a new stake in shares of Trane Technologies in the first quarter worth about $39,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Trane Technologies Stock Down 0.4%

NYSE TT traded down $1.89 on Friday, hitting $428.93. 1,048,034 shares of the stock traded hands, compared to its average volume of 1,349,519. The stock has a 50-day moving average of $382.93 and a 200 day moving average of $376.72. Trane Technologies plc has a twelve month low of $298.15 and a twelve month high of $436.61. The company has a market capitalization of $95.66 billion, a P/E ratio of 38.13, a price-to-earnings-growth ratio of 2.50 and a beta of 1.14. The company has a current ratio of 1.21, a quick ratio of 0.88 and a debt-to-equity ratio of 0.58.

Trane Technologies (NYSE:TT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.25. Trane Technologies had a return on equity of 35.37% and a net margin of 12.94%. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.46 billion. During the same quarter in the prior year, the firm posted $1.94 earnings per share. Trane Technologies's revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, analysts expect that Trane Technologies plc will post 12.83 earnings per share for the current fiscal year.

Trane Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Friday, September 5th. Trane Technologies's payout ratio is currently 31.28%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TT shares. Robert W. Baird upped their target price on Trane Technologies from $360.00 to $396.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Citigroup upped their target price on Trane Technologies from $415.00 to $445.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Stephens raised Trane Technologies from an "equal weight" rating to an "overweight" rating and set a $475.00 target price for the company in a research report on Thursday, May 1st. Barclays reduced their price target on Trane Technologies from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Finally, UBS Group increased their price target on Trane Technologies from $470.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $427.47.

Insider Buying and Selling at Trane Technologies

In other news, insider Donald E. Simmons sold 3,571 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $380.00, for a total transaction of $1,356,980.00. Following the sale, the insider now directly owns 3,593 shares in the company, valued at approximately $1,365,340. This represents a 49.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by insiders.

Trane Technologies Profile

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.